Rowan Companies PLC (NYSE:RDC)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $15.00 price target on the oil and gas company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 7.60% from the company’s previous close.
RDC has been the topic of several other reports. Zacks Investment Research raised shares of Rowan Companies PLC from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 17th. UBS AG raised shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $15.00 in a report on Monday, September 25th. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. FBR & Co reaffirmed a “buy” rating on shares of Rowan Companies PLC in a report on Thursday, October 19th. Finally, Cowen and Company set a $10.00 price target on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. Rowan Companies PLC has a consensus rating of “Hold” and a consensus target price of $16.20.
Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.26. The firm had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. Rowan Companies PLC had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of Rowan Companies PLC by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 60,193 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Rowan Companies PLC by 21.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,051,500 shares of the oil and gas company’s stock worth $10,768,000 after purchasing an additional 186,754 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Rowan Companies PLC during the 2nd quarter worth about $922,000. FMR LLC raised its position in shares of Rowan Companies PLC by 140.0% during the 2nd quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock worth $16,800,000 after purchasing an additional 957,047 shares during the last quarter. Finally, Cipher Capital LP raised its position in shares of Rowan Companies PLC by 354.2% during the 2nd quarter. Cipher Capital LP now owns 135,249 shares of the oil and gas company’s stock worth $1,385,000 after purchasing an additional 105,474 shares during the last quarter.
About Rowan Companies PLC
Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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